Page Z
THE CHINA MAIL
THURSDAY, JUNE 2, 1960.
WEST GERMAN IMPORTS
NEW YORK Restrictions
COTTON MARKET
New York, June 1.
Cotton futures today drift- ed listlessly in another
dull trading session.
to be
lifted by 1965
Bonn, June 1.
Apart from routing evening West Germany will lift nearly all import
up between trade interests and
commission houses in old crop months, the situation was lea- tureless.
Trading in the deliveries from
July (1981)
(1962) was
through to slandsill.
May
The market closed 10 lower to three points higher.
New Or- leans closed two lower to points higher,
10
restrictions on consumer goods by January 1, 1965, the Economics Minis. try reported today.
A spokesman told a news con- goods must remain
mea-he said. ference the liberalisation
The
countries sure will apply to all commodi-
that will be bry the effected group of most Lies except a small The government weekly erop
liberalisation measures, besides The amies goods and cortain tex- mixed. was
Japan, are India and Pakistan, suminary
Affected by the new measure both of whom are producers of acreage in California and Ari-Las zona had developed satisfac- torily, but euol nights and dry are binoculars, sewing machines, low-prices textiles, winds retarded growth in New toys and cigaret lighters.
Texas, Mexico. In weather promoted good deve- lopments and brought un bloom. ng in the lower Rio Grande valley.
warmer
The Liverpool market today closer, five lower to five English points higher and 474 to 653 American points under New York futures.
The beralisation proposal was made by West Germany at the Gatt conference in Geneva yesterday. It was accepted, the spokesman said.
No fear
Herr Kurt Daniel. head of the Gorman delegation which has the will: been negotiating Japanese for hearly a year, said to date. total 6,508,042 Bonn had come to the conclu- bales against 2,424,069 balession that in the case of the
Raw cotton exports for the season
shipped for be
Summe
perlot goods liberalised, it no tenger
the
last season, according to New York collon exchange. - UPI.
Agreed merchant
rates
U.S. Dollars. Maximum Selling 17: Minimum Buying 17 T/T. 17 11/16 O/D, 174 30 days, 11 27/32 60 days,, 17 15/18. 90
days.
feared competition by low-
price countries.
He acknowledged Japan had expreted complete liberalisa- tien on all goods,
Ceramics and textiles had constituted the main obstacle to agreement between Bonn and Tokyo ever since negotiations started in Japan last Jity.
be- Herr Danle! said that
now and 1965 import tween quotas will be steadily in creased,
Binoculars, for instance, will Canadian Dollars, Maxim
1902 Selling 17 5/32: Minimum Buy-be fully liberalised by
import restrielions on ing 17 13/32 T/T, 17 15/32 O/D while
and toys machines, Swiss Francs, Maximum Sell- sewing
cigarette lighters will be ted ing 74 15/16.
by 1964,
Belgian
Selling 864.
Frines.
Maximum
Imports increased
Herr Daniel stressed that
West Germany on a trade agree- negotiations between Japan and
end in another week. Bonn's ment were continuing but might trade agreement with Tokyo Ex- pired over three years ago--AP.
London
The
HONGKONG Gains on Wall
STOCK EXCHANGE
by
One Own Corres, indent
Bulness done at the Hong-
kong Stock Exchange this morn- $2,023,000, Noon quotations and the morning's transactions:
ing amounted to approximately
Shares
HK Hoel..
LAND, ETC.
Humphreys Realty NUBBER
HK Land
Buyers Sellers Sales
26.40
42
Street despite BEA order two
profit-taking
New York, June 1.
Late profit-taking chipped away at earlier gains
again today but stocks managed to close with a nominal net gain.
General Motors, Chrysler end Inland Steel Co American Motors finished with Interchemical Corp
Int'l Business Machines gains of a half or more on re-intl Harvester parts that output in May rose International Nickel-
and International Paper sharply from both "April
Int'l Tel & Tel the year's earlier levels.
Johns-Monville Co American Telephone, moving Kalaer industries narrowly on either side of the Kennecott Copper
made previous, close,
Kimberly Clark
69 support around the finish Liggett & Mycry Tuh. Co
closed with a gala of two or con- Gemble more, Procter 69 tinued
its clirab in the blue 50% chips with a gain of around
1.30 wo. 1.873
Steels improved in the late dealings after moving regular
ly in the early trading. U.S. Steel picked up
more than
McDermott J. Ray
Merck
Mesabi Iron Corp Minnesota Mining Mission Development
Monsanto Chemical Co
a i Montecatin
more
Comets
for jet fleet
London.
BRITISH European Airways has placed an order
for two more Comet 4-B jet airliners with an
10 option on another aircraft, thus raising their total
order to nine;
This follows closely the an- nouncement that £500,000 WBS 20% earned for BEA in the first six 1112
weeks from the first of April by
a comparatively small fleet of Comet jets.,
In this period six Comet jets flew 1,000 hours and 15 milion
passenger miles.
Lord Douglas
Longshoremen wage
talks break down
Chicago, June 1.
of Kirtleside,REAT Lakes Ship · Ter-
BEA chairman, predicted that
the airline would carry two and
Galperators and
531a half million passengers from longshoremen were 26 centi
April to September this year.
on hour apart today in
April traffic alone was 30 per negotiations to end a two-
protected."
BANKS HK Banki INSURANCES
Union Lombard XD 3HIPPING
1215 150 12:40
92 90
445
Walerboat
now
Asia Nav. Wheelock DOCKS, ETC.
lock
7.03
*40
.113
Provident
Taikoo
20,70
74%
20.90
**
Dock
50
50
strong
7914
Litton Ind
B0%
.4124
1211
Lockheed Aircraft
21
4
Loews Incorp
247
sel
Lone Star Cement Co Lowongein & Sons
221/
24.60
$4.90
954
1.25 1.30
6534
2151/
Ammolɛ.
74 7.60
7.40
164
Trust
8.00
1.80
Juva-Conspi..
85 cts.
**
UTILITIES
C. Light
2214
22.70
22.70
poini, National more than two
Montgomery Ward
43
Motorola Inc
192
22.80
and Armco around two.
National Biscuit Co
80
2224
Dow Jones closing averages
were:
National Cash Reg. "A
EB
Electric Macao E. HK Gas
28
28.40 30 Industrials
M4.80
National Dairy Prod
12.20
20 Ta
139.44
National Lend
13.80
H
13.80
15 witles
68.51
93
National Steel Corp
25
13.90
65 stocks
204.07
New York Central
22
STORES, ETC. Dairy
40 bends
282.63
28.40
25.60 28.80
Comm. future price
Index 145.00
Norfolk & Western Ry
991
28/
2012
20.00
26
26.00
Alden Inc. Acy.
504
Bun Co.
1.20
1.40
Owen-Illinois Glass
Wing On (HK)
831
Allied Mills Inc.
3374
Oxford Paper Co
COTTONS
2014
Pacific Gas & Elec
Textiles
10.80
11
11
Am. Brake Shoe
41
Pan American Airways
10.90
American Airline
182%
Paramount Pictures
41
Nanyang
15
15.90
15.80
Am. Cable & Radio Corp.
10
15.70
American Cyanami Co.
5511⁄2
Penny J. C. Co.
127
Pan. Salt Co.
201
13.60
Am. & Forga. Power
6
Philip Morris
4517
MISCELLANEOUS
Am. Gas & Electric
83%
Procter & Gamble Co.
1082
Vibro
14
18437
2.20
Am. Mac. & F'dry.
73
Pittsburgh Plate Gros
59$
Cald. MacGreg.
19
20%
Publicker Industries
American Smelting
50%
Pure Of
8.05
· 0.00
84 Am. Sugar Ret.....
2015
Radio Corporation
6.40
American Tel & Tel
012
Radio Corp. Preet.
American Tob
54%
Republic Steel
15
15.30
Reynolds Metal
5616
Anaconda Copper
47
Reynolds Tobacco
3312
Royal Dutch
37%
Negotiations
Rheen Mfg.
234
13
Sears Roebuck & Co.
31
Shell Of Co.
30 several
2015
Safeway Stores
39 Special,
Saint Reg. Paper
14
Scott Paper
44
Siegler Corp.
20%
Sinclair Oil
471 Smith. Kine & French
Burroughs Add Machine
38
Sacory Mob CHI
South Puerto Rico Sugar
closes
weak
Watson
Allied
Mwest
SINGAPORE
London, June 1. Stock Market moved Climans cautiously through a dull INVESTMENTS session today with inves- Int tors apparently expecting & FE bad news from Britain's May international trade figures, due tomorrow Government bonds showed under in- Meanwhile, the import quotas widespread losses on inoculars will be increased creased selling. In the foreign Chilean Greek and le four millions this year, 412 market, NOTICE TO CONSIGNEES millions next year, and five mil- bonds ensed, Dollar stocks
hons in 1982, Herr Daniel said. were dull.
Will
showed Similarly, textiles
Industrials
wide- gradually let into Germany in spread losses, many top ciass favourites larger quantities with restric-issues and recent tions dropping off completely in most goods by 1965,
West German Deutschemarks. Maximum Selling 72.
"ACHILLES"
Damaged cargo ex this vessel will be surveyed by Messrs Paulsen & Bayes-Davy Ltd., at Holt's Whart from 10a.m. on June 7, 1BGU
consignees and have their during the survey.
are requested to representatives presunt
BUTTERFIELD & SWIRE, Agents.
Hongkong, 2nd June, 1960.
be
was not
He said Germany able to remove existing import cotton restrictions on certain and woollen goods ani textiles made of synthetic fibres.
This also applied 10 ceramic products. "This hard
NOTICE
core of
We wish to advise our customers
that, with effect from 1st June 1960,
the selling unit of our products which have hitherto been marketed in
American Gallons (A.G.) or English
Tons, has been changed to Imperial
Gallons (1.C.).
THE SHELL COMPANY OF HONG KONG LTD.
P.O
R.M.S. "CANTON"
EMBARKATION NOTICE
finished lower.
Gold shares were quiet and mainly casier through lack of interest. Coppers and dia-
monds lost grounds.
Oils were casier-AP,
quiet and mainly
Closing Prices
Giltraged Bonda British Transpon 3.2. £62-11/16.
Consils 2%-£457 xd, Consols 45%-£
Conversion
£01-11/16.
ال الولاية
RUBBER
MARKET
Singapore, June 1. With overseas advices slightly
the higher
market opened steadier.
Closing Prices
Allied Chemicals
Alis Chalmers
Am. Home Prod
American Metal
Ampex
Armour
Allax Cons. Mining Baldwin-me-Ham.
Baltimore & Ohio
Beneficial Finance
Bendix Aviation Corp. Benguet Cons
Bethlehem Steel
Boeing Airplane
Borden (The) Co.
Calif, Hacking
Corp.
Campbell Soup Co.
Canadian Pacific R.
Case (J. 1.) Co. Cet. Tractor
Celanese Corp.
C. 1. T. Financial Corp. Chape Machat. Book Chrysler Motors Cluett Peabody
Lower grade interest proved Colombian Carbon Co., very good and with Federation, Commercial Credit
closed sellers Continental Oil of Del.
Continental Cen centres virtually were difficult to come by and Crane Co. differentials narrowed.
The afternoon session was idle 1978/until the cluse when some small buying pressure brought prices up one-fourth cent
32.
1903–
Funding
Loan
3
ART.
Puriding Stock
1959/g
31. 1999/2004~-
£68
Funding £49.
3d.
Loan 400 1000/90-
Savings 3%. 1955/65-90%.
Savings 3, 1960/70-£.
Savings 3%, 1965/76-73-11/16.
Banks
Barclay's Bank "A" Ltd ord--548
Chartered Bank-33s “d. Hongkong-200
Lloyd's Bank "A"-02s 3.
Insurance
Enton Insurance Canton--526. Aircraft and Motors Briikh Motor Corp. Ord--19s 3d. Ford Motor Co-1125 6d car. Hawker Siddeley Group Ord-30.1
Hulis Royce Ltd Ord-4ts 60. Rootes Ltd "A"-12" Standard Triumph International-- 118 10.
Breweries
Distillers Co~~35 7150.
South African Breweries-278,
Balding and Materials
Associated Portland Cement-075
7d.
Goodlass Wall & Lead Ord-473. Coal, Steel and Engineering Bobcock & Wilcox Lt-38 41%d. United Steel-76% (d.
Vickers Lid-334.
Food & Tabacco British American Tub 62- 64.
Co., Imperial Tobacco
od.
Co., Ltd-
Ltd-676
Miscellaneous Boardman Marden Lid-51s 100. British Oxygen Ltd. Ord-9s . Canadian Pacifle Aly-
Unilever Ltd-154.
Paper
In Amsterdam, the rubber market was qulet today-UPI.
Exchange rates
109
North Amer, Aviation Northwest Airlines (Cem.) Oklahama Nat. Gos
Olin Mathieson
Southern Co. (The)
251 Southern Natural Gas
28
Southern Railway (Com.) Sperry Rand-
Standard Brands
63% Standard Ol of Cal.
60 Standard Oil of Ind.
Standard Oil of NJ. 441, 5614 Steep Rock... 40% Sterling Drug Co.
Stokely-Van "Comp.
Sunshine Mining
cent higher this year than lost, week-old strike, and talks
he said.
Lord Douglas also said that as were recessed indefinitely. 20% Comets and Vanguards entered service, the Viscounts would 2012 gradually be shifted to domestic
4271
The
negotiations,
affecting some 3,000 International Long-
11 routes, replacing the older and shoremen's Association (LA)
slower Plonairs.
dockworkers in six port cities
The two new Comets will be recessed today after the Marine.
Association of Chicago jocied delivered by March 1961,
A BEA spokesman said the the Union's demand for a $3.18. Comet feet was proving highly bour pay. successful.
The
shippers
earlier
had
De Havillands have now sold offered a standardised $2.92 hour or received hard orders for 50 pay and benefits pact for long- Comets of various types and shoremen in Chicago. Cleveland
near the break- and Buffalo, New York.-UPI. are believed steven mark.
are
In an ad-
51 vanced stage for the sale
more. China
Supersonic work necessary to UK
|A
of
Ma Boac inaugurates
་
transatlantic service
Montreal, June 1.
BOAC'S new transatlantic
jet service was in. augurated today when a Boeing 707 liner touched LEADING British air down here from London and
London.
expert holds that to Glasgow. The flight time
14 abandon work super- from Glasgow was five hours,
65
2017
37
4272
401
Swift & Cop
47
Texas C
Cuban Amer. Sugar Delaware & Hudson Co.
144
Textron Inc.
24
Tulokol Chem.
Diamond Alkal
65
Tide Water Oil
31
30
Twentieth Century Fox Film
3624
Diamond Gard
Douglas Aircraft
Dow Chemical Dupont de Nemours Eastern Air Line
Eastman Kodak
El Paso Natural Gas
Family France Corp.
Freslone Tyre & Rubber
First Nat. City Bank-
Ford Motor.....
General Dynamics
General Electric
Gen. Pub, Util
the local Gen. Tyre & Rubber
this! Getty
Business was done unofficial exchange market morning at the following rates: US. callar per $1 Sterling notes (per 21 Australian notes (per £1) Indonesian rupiah (per 1001 Siam ticals (per 100) Singapore (Sirelis}
Goodyear Tyre 5.75 Grumman Aircraft 16.00 Gulf O
12.64 Hammond Organ 1.83 Heyden Newport Corp 25.85 Homestake Mining Co
1.80 Idaho Power
Yesterday's Closing
274
Tri-Cont. Warrante
Union. Of of Cal."
30 Union Pacific Raliway
20512
United Alreraft
United Fruit
139% United Gas Corp.
31
US. Fail "B"
284 U.S. Gypsum
U.S. Line Co.
19% US Rubber
S. Steel 7 P.C. P.F.
13% Westinghouse Air Brake
30
on
sonte transport entirely to 50 minutes.
Lo
the Americans and the Rus The aircraft was to continue Toronto before making a 451% sians would be to surrender
to the United Kingdom. A training pro-
Britain's place in advanced return trip technology.
Mr Peter Masefield, president/gramme for crews that went at pace enabled the of the Royal Aeronautle Society an advanced
said this while speaking on the carrier to launch ite new ser British Broadcasting Corpora- vice
lon's third
programme.
Mr Masefield said the super-
sonic transport aeroplane was
now an inevitable development
six weeks ahead
schedule. AP.
long-range, and particularly Moscow's
trans-Atlantic airline services,
Supersonic transport, "one of
third
the biggest and juiciest carrots airport opened
71
U.S. Smoting
2236
43
US Steel
2912
894
14035 for
25
Warner Bros.
44
644
Waukeeha Motors
40
28T
K
Westinghouse Electric
28%
Western Union Tel Co.
274
West Va. Pulp & Paper
71
Winn-Dixie Stores
31
243
Woolworth (K. W.)
38
Zenith Redio
515
COMMODITY PRICES
SUGAR
No. I
June
COTTON
July
NEW YORK
Closing prices all in cents per lb:
Dunlop Rubber Co--27
De La Rue Co. Ltd. Ord-09 34.
d.
Closing prices all in cents per 1b.;
NEW YORK
Gilman Holding Ltd-2s Od, Hongkong & Chinn Gas-10x 6d n. Imperial Chemical-19 7ad. Lvms & Co-78« Bd.
Contract No. 4 (world)
Spot
July
July Sept. 02.
3.00-3.01 3.10
Oct
May
3.73
July
May
3.27
Oct.
Sept.
3.34b
Dec.
Total Sales: 122 contracis,
Contract No. 8 (domestic)
Mar.
July
Sept. Nay.
5.81-82 5.95
В
per lb.:
Total Sales: 87 contracts.
July
-UPL
Oct.
Dec.
May
July
Oct.
Dec.
Bowater Paper Corp Ord-725 9.
Radio and Electrical ABDelated Electrical-176 31. Electrical & Musical-08:30: English Electric Cols 38, General Elertile 40s.
Bhipping Indo-China Steam
Nav. Co. def
P&Q Steam Navigation def ord- 400 415.
Storet
For United Kingdom via Singapore, Penang, Colombo, pr
Bombay, Aden, Suez-Port Said.
EMBARKATION: Passengers should embark between 2.80 and 4.00 p.m. on Friday, 8rd June, 1950.
BAILS:
BAGGAGE:
The ship is expected to sail at 6.00) p.m. on Friday, 3rd June, 1960.
Should be sent to the Hongkong & Kowloon Wharf Co.'s Godown (No. 2 rate) by 5.00 p.m. on Thursday, 2nd June, 1960.
SUBJECT TO ALTERATION
41d..
Great Marks & Spencer Lid-726 9d. Woolworth F., W. & Como
Universal Stures "A"-489
Texlisa
Pogba J&P Ltd-44% Pd
Courtaulds L——-076 41⁄20,
Mines
Cone Coldfelds of South Africá- 02 714d.
Cons Zime Corp. Ord-75%,
The Beer Def-1508.
Honekone Tinier 11⁄2d.
Pelling Tin-Bs.
Rand-450.
Reuthern Kinta Cone Fid-279 04. Tinich Chm-238 $160
Wert Driefontein Coldmining-82%
od
011
British Borneo Petroleum Byrdt- chte 10d.
34
METALS
I146
NEW YORK Closing prices, all in cents per lb.:
Lead July
Sept. Zinc July
Sept. Copper July Bepl
11.58
11.30 11.48 30.37
LONDON Closing prices, all in sterling per long ton.
Tin spot 3-month British Burmah Petroleum-75. Brich Petroleum Co., Ltd-18 Copper apot
3-month
Furmah-44 fid.
Faval Dutch Petroleum13-11/14,
No. 2 June
No. 3 June
No. 4 June
Blanket crepe
Spot rubber unbaled
No. 1 pale crepe
AMSTERDAM
49% which has been in the back-
30% ground for the big
Bamalgamations," needed
airframe
118 designers and technicians,
-UPI.
1287-1274
12432-1251⁄2 125-17544 11054-32016 117-1 127-128 113-115
132-134
Closing prices all in guliders per kilogram, cit. June,"
No. 1 rubber
34.15
32.81
31.07
31 43
No. 2 rubber.
No. 3 rubber
No. 1 crepe
31.88
3138
NEW ORLEANS
Closing prices all in cents
RUBBER
NEW YORK
GONZALAR
Rex rubber futures closing prices, all in cents per lb.
42.50 traded 49.13 traded 40.10 b
July Sept. Nov.
Buyers. Fellers.
783
Ion
Mer.
7831⁄2 784
May
241
24144
July
22014
Lead lot half June
15%
7814
cents per 1b. 1.p.b. Malaya
Shell Transport & Trading-1448 Zine 1st half June
3.45
352 buyers
3.36 buyers
3.16 buyers
UPI.
FOREIGN EXCHANCE
NEW YORK Closing rates; mak Canada England official
30-days 30-days
Australia New Zealand South Africa
Others unchanged.
LONDON Closing rates:
New York Montreal
Amsterdam
38.70 b
38.006
Boutis “Copentrager
38.10 b
37.30 b
Od
Stockholm
Vienna
SINGAPORE Closing prices all in Straits Man
more
The need for an individual
gense of effectiveness" in de-
Moscow, June 1.
ot
\TOSCOW'S third airport
Sheremetyevo
-
sign should not suffer as a result today became the Interna- of the big mergers which were tional airport of the Soviet necessary for Bnancial and in- Union, Tass spid, dustrial strength. China Mali Special.
West Germany's
shipping output
Tass said Sheremetyevo, com pleted a year ago, is one of the largest and best-equipped air- porta in the Soviet Union. It will be the headquarters of the Russian airline Aegoflot, which serves 21 countries.
Tass said Inaugural flights today arrived at. Sheremetyevo from Berlin, London, Brussels, and other cities, Copenhagen for Paris, Budapest, Vienna and 233 sco going ships elsewhere--UPI.
Hamburg, June 1,
WEST Germany produced at Soviet jet-almines took off
last year with a total of 1,251,394 gross tons, the Association of German Ship- yard said today.
The Association's annual re-
PAA claims new
port said of the total, 105 stulps Boston-London_record
or 61.1 per cent were produced
on foreign orders and exported.
Ger
In December last year man shipyards chalked up
Londo June. 1. American Airways
orders of a total of 214 ships Poday claimed a new displacing 1,555,512 gross to, ivair record after a jet-
the report said.
Hoading the list of countries powered PC-8 airliner with importing ships from Germany 99 passengers aboard How Wene Norway with 25 ships from Boston to London in 5 (270.130 gross tons) and the
the Netherlands with 11 show hours 45 minutes. Average (68,507 gross lons) said the respond was $65 miles an hour. part.
Previous best time for the It noted that 40 German 2,880-mile journey was 5 hours. shipyards were taking part in 58 minutes set up by a Panam Boeing 707 last November, & the nation's ship production.
Panam spokesman said UPI.
2.8010 281-2.63 2.705
2.7070
222410
2.7910
UPI.
2.5050
2.80 1/16-2.80 3/18 2.7612.76317 10.45 -10.5634
130.37-139.83
11.0216-11.0915 19.964-19,901 13.72-13.7241
1738-1738 72.00-73.23
Marine & Industrial
COVENTRY
· Engines
VICTOR
Generating, sats PO Box 2 RENECOTE 24491,
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